In: Business and Management

Submitted By g11s0684
Words 1837
Pages 8
November Exam 2013
Compulsory Essay Question
50 Marks

How do you think South Africa could grow faster, create more jobs and reduce inequality?
In your answer explain how your policy objectives would achieve their intended objective.


(Mentionsomething about GEAR and RDP)

Economic growth has been handicapped by high levels of unemployment, poverty and inequality, which continue to plague society today. Since 1994 South Africa has achieved an average growth rate of 3 %, a level that is mediocre by international standards and is still below what is deemed necessary for supporting a lasting transition to democracy and correcting the historical injustices of apartheid. Numerous policies have been implemented to correct these faults and increase growth but have seen little success. A combination of poor economic reasoning and implementation may account for this. But a recurring problem with historical and current policies is that they are contradictory and at times conflicting. The 2008 OECD report highlighted this in AsgiSA, which focuses on employee training but offers little to improve basic education. Therefore, correcting these faults and achieving increased growth calls for complementary policies to create a virtuous cycle for success.

The following essay looks at the labour market, industry, trade and public-private partnerships as areas of focus for constructing a democratic developmental state. Policies suited for each of these focus areas are discussed whilst highlighting how they complement each other to achieve a virtuous cycle.

The labour market

A lack of skills and employment creation is one of South Africa’s fundamental economic weaknesses. High levels of structural unemployment, due to a lack of skilled labour, emphasize poverty and…...

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基本事務所 | the six ethical principles of a professional organization | EMPiRE (45) - The Empire Strikes Start!! (Cass, Album, Ltd)